turnaround

noun turn·around \ -ˌrau̇nd \
Updated on: 15 Nov 2017

Definition of turnaround

1 a : the action of receiving, processing, and returning something
  • 24-hour turnaround time on most orders
b : the process of readying a transport vehicle for departure after its arrival; also : the time spent in this process
  • a quick turnaround between flights
2 a : turnabout 1a
  • a corporate turnaround
b : turnabout 1b
3 : a space permitting the turning around of a vehicle
4 : a jump shot by a player facing away from the basket who turns toward the basket while shooting often used attributively
  • a turnaround jumper

Examples of turnaround in a Sentence

  1. The turnaround for most orders is 24 hours.

  2. There is a 24-hour turnaround time on most orders.

  3. a quick turnaround between flights

  4. The team needs a big turnaround after their loss last week.

  5. The company has achieved a remarkable turnaround in the past year.

  6. The latest news has caused a turnaround in public opinion.

Recent Examples of turnaround from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'turnaround.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of turnaround

1926


turn around

verb

Definition of turn around

intransitive verb
1 : to become changed for the better
2 : to act in an abrupt, different, or surprising manner used with and
  • after three years he just turned around and left school
transitive verb
: to change for the better
  • turned her life around

Recent Examples of turn around from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'turn around.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of turn around

1934


Financial Definition of TURNAROUND

turnaround

What It Is

A turnaround occurs when a company takes successful steps to correct a period of deteriorating financial performance.

How It Works

To turn a business' financial results around, companies often obtain special financing for revitalization projects or hire managers with a proven track record of improving the financial results at struggling companies. Famous "turnaround" CEOs include Al "Chainsaw" Dunlap, who was hired in 1996 to turn Sunbeam around, or Jacques "The Knife" Nasser, who was tapped in 1999 to revitalize operations at Ford (NYSE: F).

Turnarounds frequently involve stabilizing the business and then cutting costs, reducing the workforce, selling superfluous assets, divesting entire divisions, retiring excess debt, and/or dramatically changing how the company markets or sells its products. In some cases, turnarounds also involve filing for bankruptcy in an effort to reduce/restructure heavy debt loads.

Why It Matters

Turnaround efforts can be risky and don't always end in success. According to a Harvard Business Review study, about 70% of all turnaround efforts fail. However, some companies -- like MCI and K-Mart -- have emerged from bankruptcy, addressed critical problems, and made gradual improvements.

By definition, companies in need of a turnaround have reported declining financial results, and many have seen their shares collapse as investors lost faith and sold their positions. As a result, companies seeking to turn around their operations often trade at a sharp discount. Such firms often capture the attention of value investors, particularly when there is a strong possibility that turnaround efforts are likely to deliver improved financial performance in the near future. In fact, the mere announcement that a company plans to engage in turnaround efforts often results in an increased stock price.


TURNAROUND Defined for English Language Learners

turnaround

noun

Definition of turnaround for English Language Learners

  • : the time it takes someone to receive, deal with, and return something

  • : the process of making something (such as an airplane) ready for use again after it has arrived at a place

  • : a complete change from a bad situation to a good situation, from one way of thinking to an opposite way of thinking, etc.



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